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“’Cause she’s, you know, obviously they — and Michelle — have made a lot of sacrifices on behalf of my cockamamie ideas, the running for office and things,” Obama joked in an interview with ABC’s Barbara Walters that will air Friday on a special edition of “20/20.”

By the time the president’s second term is over, Malia will be in college, while Sasha will be a sophomore in high school. Both girls attend Sidwell Friends School in Washington, D.C., where Chelsea Clinton also attended while her father was president.

“So we’ve gotta — you know we gotta make sure that she’s doin’ well … until she goes off to college,” the president said. “Sasha will have a big say in where we are,” the president said.

ABC News reports that if Obama were to stay and maintains a residence in D.C. after his term, he would be the first ex-president to do so since Woodrow Wilson.

Michelle Obama also spoke about her dislike of social media sites for her daughters.

“I still am not a big believer in Facebook for young people … particularly for them, because they’re in the public eye,” Michelle Obama said. “Some of it’s stuff they don’t need to see and be a part of. … So we try to protect them from too much of the public voice.”

Walters asked President Obama if he thought his wife would have made a better president.

“Of course … That’s an easy question!” he said.

However, the president also acknowledged the challenges he’s faced during the second term of his own presidency, but remained optimistic.

“I’ve gone up and down pretty much consistently throughout,” Obama said. “But the good thing about when you’re down is that usually you got nowhere to go but up.”

And despite its troubled roll out, Obama stood by the Affordable Care Act as a legacy he will be “extraordinarily proud of.”

“I continue to believe and [I’m] absolutely convinced that at the end of the day, people are going to look back at the work we’ve done to make sure that in this country, you don’t go bankrupt when you get sick, that families have that security,” Obama said.

While he didn’t name specifically who should be his successor, Obama said there is “no doubt” a woman will soon be elected to the White House.

“We have some amazing female [public] servants all across the country and there is no doubt that sometime very soon, we’re going to have a female president,” the president said. “I’m confident that she will do a great job.”